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Economy
Iran’s Rouhani says national currency’s fall is temporary
Iranian President Hassan Rouhani said on Tuesday that the slump in Iran’s rial will be temporary, after the currency sank to its lowest ever before recovering slightly.
“The shock created in the foreign exchange market is temporary and…
Oil rises after Trump assurance on China trade deal
On Tuesday, Oil prices rose after a volatile session sparked by confusion over the status of the U.S.-China trade deal.
Brent crude rose 49 cents, or 1.1%, to $43.57 a barrel by 0933 GMT, having skidded to a session low of $42.21. U.S.…
Oil falls on fears over rising virus cases worldwide
On Monday, oil prices fell as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers.
Brent crude LCOc1 was down 24 cents, or 0.6%, at…
IMF:Lebanon needs comprehensive, equitable reforms in many areas
The International Monetary Fund remains in discussions with Lebanon about possible financing arrangements, an IMF spokesman said on Thursday, adding that it was premature to discuss the scope of any potential program.
Spokesman Gerry…
Russia’s unemployment rate hit 6.1% in May
Russian Labour Minister Anton Kotyakov said on Wednesday, that Russia's unemployment rate stood at 6.1% in May, an increase from 5.8% recorded in April by the state statistics service.
Speaking at a conference run by the Russian Union of…
Spain’s economy recovering as jobs numbers grow, minister says
Spain’s economy has started to recover after the severe impact of the coronavirus pandemic, Economy Minister Nadia Calvino said on Wednesday, citing favourable employment indicators following the gradual easing of a lockdown since May.…
Oil rise on positive news of COVID-19 drug study
On Wednesday, Oil rose on hopes for economic recovery and for a clinical trial showing a cheap steroid could help save some critically ill coronavirus patients but fears of a second wave of the virus curbed gains.
Brent crude LCOc1 was…
WTO tells Saudi to obey global rules in Qatar broadcast dispute
A World Trade Organization panel ordered Saudi Arabia on Tuesday to adhere to global intellectual property rules in a ruling on a dispute with Qatar which accuses Riyadh of blocking its broadcaster after the Gulf neighbours fell out in…
Oil prices rise on supply cuts, improving demand
On Tuesday, Oil prices rose, with Brent crude rising above $40 a barrel, as the IEA increased its oil demand forecast for 2020 and as record supply cuts supported.
In its monthly report on Tuesday, the International Energy Agency (IEA)…
Oil falls amid fears of coronavirus second wave
On Monday, Oil prices fell as new coronavirus infections hit China, Japan and the United States, adding to concerns that a resurgence of the virus could hamper a recovery in fuel demand.
Brent crude was down 15 cents, or 0.4%, at $38.58…